Final demand producer prices in Australia were up 0.7 percent on quarter in the fourth quarter of 2022, the Australian Bureau of Statistics said on Friday.
That was shy of expectations for an increase of 1.7 percent and was down from 1.9 percent in the three months prior.
The main contributors to growth were output of building construction (+1.6 percent), heavy and civil engineering construction (+1.5 percent) and computer and electronic equipment manufacturing (+4.2 percent).
Offsetting the rise were price falls in petroleum refining and petroleum fuel manufacturing (-10.0 percent), other agriculture (-7.4 percent) and electricity supply; gas supply; and water supply, sewerage and drainage services (-2.6 percent).
On a yearly basis, producer prices rose 5.8 percent – again missing forecasts for 6.3 percent and down from 6.4 percent in the previous three months.
The material has been provided by InstaForex Company – www.instaforex.com
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